American Alpha Advisors LLC Invests $391,000 in Alphabet Inc. (NASDAQ:GOOG)

Key Points

• American Alpha Advisors LLC recently purchased 2,500 shares of Alphabet Inc. (NASDAQ:GOOG) valued at approximately $391,000 in Q1 2023, marking a new investment in the tech giant.
• Alphabet announced a quarterly dividend of $0.21 per share, with the payout set for September 15th, which represents an annualized yield of 0.4%.
• The company reported a 13.8% year-over-year increase in revenue, totaling $96.43 billion for the last quarter, surpassing analyst expectations.

American Alpha Advisors LLC bought a new stake in Alphabet Inc. (NASDAQ:GOOG - Free Report) during the first quarter, according to the company in its most recent disclosure with the SEC. The firm bought 2,500 shares of the information services provider's stock, valued at approximately $391,000.

A number of other large investors also recently modified their holdings of the company. Vanguard Group Inc. grew its stake in shares of Alphabet by 2.4% in the 1st quarter. Vanguard Group Inc. now owns 411,570,922 shares of the information services provider's stock valued at $64,299,725,000 after buying an additional 9,687,855 shares during the period. JPMorgan Chase & Co. lifted its position in shares of Alphabet by 9.9% during the 1st quarter. JPMorgan Chase & Co. now owns 102,232,997 shares of the information services provider's stock worth $15,971,861,000 after buying an additional 9,243,959 shares in the last quarter. Capital International Investors lifted its position in shares of Alphabet by 6.7% during the 4th quarter. Capital International Investors now owns 91,236,069 shares of the information services provider's stock worth $17,376,706,000 after buying an additional 5,758,244 shares in the last quarter. Northern Trust Corp raised its holdings in shares of Alphabet by 16.1% in the 4th quarter. Northern Trust Corp now owns 57,098,042 shares of the information services provider's stock worth $10,873,751,000 after purchasing an additional 7,917,625 shares during the period. Finally, Capital Research Global Investors raised its holdings in shares of Alphabet by 0.8% in the 4th quarter. Capital Research Global Investors now owns 39,148,500 shares of the information services provider's stock worth $7,455,571,000 after purchasing an additional 294,556 shares during the period. 27.26% of the stock is currently owned by institutional investors.

Insider Activity at Alphabet

In other news, Director Kavitark Ram Shriram sold 15,000 shares of the company's stock in a transaction that occurred on Friday, July 18th. The shares were sold at an average price of $185.76, for a total value of $2,786,400.00. Following the completion of the sale, the director owned 240,400 shares of the company's stock, valued at approximately $44,656,704. This represents a 5.87% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Sundar Pichai sold 32,500 shares of the company's stock in a transaction that occurred on Wednesday, August 6th. The stock was sold at an average price of $196.23, for a total transaction of $6,377,475.00. Following the completion of the sale, the chief executive officer directly owned 2,494,892 shares of the company's stock, valued at $489,572,657.16. The trade was a 1.29% decrease in their position. The disclosure for this sale can be found here. Insiders sold 274,219 shares of company stock valued at $49,674,273 in the last quarter. Corporate insiders own 12.99% of the company's stock.

Alphabet Price Performance

GOOG stock traded down $0.46 during mid-day trading on Monday, hitting $201.63. The company had a trading volume of 16,675,980 shares, compared to its average volume of 24,116,525. The company has a market capitalization of $2.44 trillion, a price-to-earnings ratio of 21.47, a P/E/G ratio of 1.34 and a beta of 1.02. Alphabet Inc. has a 12-month low of $142.66 and a 12-month high of $208.70. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.07. The company has a 50-day moving average price of $181.90 and a 200 day moving average price of $174.35.

Alphabet (NASDAQ:GOOG - Get Free Report) last announced its quarterly earnings results on Wednesday, July 23rd. The information services provider reported $2.31 EPS for the quarter, topping the consensus estimate of $2.12 by $0.19. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. The business had revenue of $96.43 billion for the quarter, compared to analysts' expectations of $93.67 billion. During the same quarter in the previous year, the company earned $1.89 EPS. The business's quarterly revenue was up 13.8% compared to the same quarter last year. On average, research analysts anticipate that Alphabet Inc. will post 8.89 earnings per share for the current year.

Alphabet Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Monday, September 8th will be given a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 0.4%. The ex-dividend date of this dividend is Monday, September 8th. Alphabet's payout ratio is 8.95%.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on GOOG shares. Cantor Fitzgerald reissued a "neutral" rating and set a $171.00 target price on shares of Alphabet in a report on Friday, April 25th. Lake Street Capital reissued a "buy" rating on shares of Alphabet in a research note on Wednesday, July 9th. Tigress Financial reaffirmed a "strong-buy" rating on shares of Alphabet in a research note on Friday, May 2nd. JPMorgan Chase & Co. increased their price target on shares of Alphabet from $200.00 to $232.00 and gave the stock an "overweight" rating in a research note on Thursday, July 24th. Finally, Scotiabank upped their price objective on shares of Alphabet from $200.00 to $240.00 and gave the stock a "sector outperform" rating in a report on Tuesday, July 22nd. Three analysts have rated the stock with a sell rating, six have issued a hold rating, seventeen have issued a buy rating and five have issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $215.19.

Alphabet Profile

Alphabet Inc offers various products and platforms in the United States, Europe, the Middle East, Africa, the Asia-Pacific, Canada, and Latin America. It operates through Google Services, Google Cloud, and Other Bets segments. The Google Services segment provides products and services, including ads, Android, Chrome, devices, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.